Hsbc Holdings PLC Purchases 240,541 Shares of Portland General Electric Company $POR

Hsbc Holdings PLC increased its position in shares of Portland General Electric Company (NYSE:POR) by 1,593.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 255,634 shares of the utilities provider’s stock after purchasing an additional 240,541 shares during the quarter. Hsbc Holdings PLC’s holdings in Portland General Electric were worth $13,473,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in POR. Vanguard Group Inc. lifted its position in shares of Portland General Electric by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 13,020,573 shares of the utilities provider’s stock worth $624,857,000 after buying an additional 513,517 shares in the last quarter. State Street Corp grew its holdings in shares of Portland General Electric by 3.4% in the fourth quarter. State Street Corp now owns 4,728,784 shares of the utilities provider’s stock valued at $229,333,000 after acquiring an additional 156,164 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Portland General Electric by 1,342.7% in the fourth quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock valued at $222,824,000 after acquiring an additional 4,321,305 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Portland General Electric by 42.2% during the fourth quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider’s stock valued at $170,448,000 after acquiring an additional 1,054,450 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Portland General Electric by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,805,796 shares of the utilities provider’s stock valued at $134,680,000 after acquiring an additional 73,185 shares during the last quarter.

Portland General Electric Stock Performance

NYSE:POR opened at $52.94 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.95. The business has a fifty day simple moving average of $50.89 and a two-hundred day simple moving average of $51.23. Portland General Electric Company has a 1 year low of $39.73 and a 1 year high of $54.62. The company has a market capitalization of $6.13 billion, a P/E ratio of 23.63, a P/E/G ratio of 2.19 and a beta of 0.52.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). The firm had revenue of $879.00 million for the quarter, compared to analysts’ expectations of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 EPS. On average, analysts expect that Portland General Electric Company will post 3.4 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th were issued a dividend of $0.5513 per share. This represents a $2.21 annualized dividend and a yield of 4.2%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, June 25th. Portland General Electric’s payout ratio is currently 98.21%.

Insider Buying and Selling at Portland General Electric

In other news, VP Juan Diego Gallegos sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $48.67, for a total value of $133,842.50. Following the sale, the vice president owned 12,127 shares of the company’s stock, valued at $590,221.09. The trade was a 18.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert N. Hoglund purchased 2,000 shares of the stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $48.80 per share, for a total transaction of $97,600.00. Following the transaction, the director owned 2,519 shares of the company’s stock, valued at approximately $122,927.20. This trade represents a 385.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on POR. JPMorgan Chase & Co. boosted their price objective on Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research report on Friday, May 15th. Zacks Research cut Portland General Electric from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. BMO Capital Markets cut their price target on shares of Portland General Electric from $55.00 to $54.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Portland General Electric presently has a consensus rating of “Reduce” and an average target price of $50.90.

Portland General Electric Company Profile

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.